Cluey insto’s who fully understand the science are buying. But against this, retail holders losing patience are selling. Funds such as Regal who were burnt by OPT are selling. Funds who got in early and want to avoid losses or are locking in profits are selling. Opportunistic hedge funds taking advantage of current macroeconomic and offshore challenges, are short selling. Biotech investors in general who got spooked by OPT are selling.
Who aren’t selling? The insiders and directors or any of the other major holders. It’s a very tightly held share register at the top and BP know full well that a low ball offer would not get the required support so why bother? Perhaps when the SP gets to $10 or higher there will be some opportunistic offers. Once current external headwinds dissipate and upcoming results released and hopefully impress, I believe we will return to previous highs and beyond. My opinion only and I could be wrong. Unlikely though
CU6 Price at posting:
$1.68 Sentiment: Buy Disclosure: Held
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